FOAM Coolers Update | Shark Tank Season 16
FOAM Coolers splashed on Shark Tank Season 16 with lightweight, durable EVA foam coolers designed for everyday use.
Founders Chad Lee and David Kittle aimed to revolutionize the more astonishing industry by offering an affordable, practical alternative to bulky hard-shell options.
Their pitch impressed the Sharks, leading to a deal with Daymond John. But what happened to FOAM Coolers after Shark Tank?
In this FOAM Coolers update, we’ll discuss their Shark Tank journey, the Sharks’ responses, and how the company has grown since the show aired.
FOAM Coolers on Shark Tank: Pitch Recap
- Founders: Chad Lee and David Kittle
- Business: Lightweight, durable EVA foam coolers
- Ask: $150,000 for 10% equity
- Deal: $150,000 for 30% equity with Daymond John
Chad and David entered Shark Tank looking for $150,000 in exchange for 10% equity in FOAM Coolers.
They highlighted the drawbacks of traditional coolers—bulkiness, high costs, and unnecessary extreme features like bear-proofing—and presented FOAM Coolers as a more practical solution for casual outings.
Key Selling Points of FOAM Coolers
- Lightweight & Durable – Made from 100% EVA foam (the same material as Crocs shoes).
- Easy to Clean – Smooth design with no crevices to trap dirt.
- Affordable Alternative – Retail price of $99, much lower than high-end coolers.
- Retail Potential – Already secured placement in 97 Target stores.
The founders also revealed that they had invested $150,000 into the business.
At the time of the pitch, FOAM Coolers had generated $114,000 in sales for 2024, with an additional $137,000 in pending orders, totaling $251,000 in revenue.
Shark Tank Negotiation Breakdown
| Shark | Offer | Reasoning |
| Lori Greiner | No Offer | Loved the product, but it was not the right fit for her investment style. |
| Mark Cuban | No Offer | Liked the product but didn’t see the risk-to-reward ratio working in his favor. |
| Todd Graves | No Offer | Felt other Sharks were better suited for this deal. |
| Kevin O’Leary | $150,000 for 33.3% equity | Willing to take the risk but asked for a larger stake. |
| Daymond John | $150,000 for 30% equity (Accepted Deal) | Believed in the brand’s potential and had experience in branding & retail. |
After countering Kevin and Daymond at 17% equity (which was rejected), Chad and David negotiated with Daymond at 25%.
However, Daymond stood firm at 30%, and they ultimately accepted his offer.
FOAM Coolers Post-Shark Tank Growth
Since Shark Tank, FOAM Coolers has experienced significant growth in sales, product innovation, and retail expansion.
Sales & Revenue Growth
| Year | Revenue | Major Milestones |
| 2024 | $251,000 | Secured deal with Target (97 stores). |
| 2025 | Estimated $500,000+ | Expanded retail partnerships & launched Gen 2 coolers. |
Retail Expansion & Distribution Deals
| Retailer | Status | Notes |
| Target | ✅ Active | FOAM Coolers are available in stores across FL, AZ, and CA. |
| REI | ⚡ In Progress | Founders expressed interest in expansion. |
| Amazon | ✅ Active | Direct-to-consumer sales are growing. |
| Koozie Group | ✅ Partnered | Strategic partnership to expand branding & retail presence. |
New Product Launches & Innovations
FOAM Coolers introduced the Gen 2 series in November 2024, featuring:
- New colors: Cherry Red, Arctic White, and Cyan Blue.
- Improved durability and insulation.
- Updated pricing ($125) with a 10% discount for first-time buyers.
- Accessories like shoulder straps, sticker packs, caps, and t-shirts.
Why FOAM Coolers Is Succeeding
FOAM Coolers’ rapid post-Shark Tank growth can be attributed to several key factors:
- Retail Readiness – Their deal with Target was secured even before Shark Tank, proving market demand.
- Affordability & Practicality – Offers a real solution for casual users, unlike premium coolers focused on extreme durability.
- Shark Partnership – Daymond John’s branding and retail expertise helped the company grow.
- Strategic Expansion – Partnering with Koozie Group and targeting REI shows intelligent scaling.
- Product Innovation – Introducing Gen 2 models with new colors and features keeps the brand fresh.
Final Thoughts: FOAM Coolers’ Future
FOAM Coolers has successfully leveraged its Shark Tank exposure to grow its brand.
The company is on a promising trajectory with increasing retail partnerships, a new product line, and strong sales momentum.
Their journey highlights key business lessons:
- Know Your Market – FOAM Coolers identified an underserved segment in the more astonishing industry.
- Persistence Pays Off – Their cold-call strategy landed them in Target without providing samples.
- The Right Investor Matters – Partnering with a Shark who aligns with your vision can be game-changing.
As FOAM Coolers continues expanding, they’re making waves in the industry.
We’ll be back with another FOAM Coolers update as their story unfolds!
What do you think about FOAM Coolers’ growth? Would you buy one? Drop a comment below!
